S.D. Admin. R. 20:06:03:27

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:06:03:27 - Nominees and directors

If action is to be taken with respect to the election of directors, the solicitor shall furnish the following information, in tabular form to the extent practicable, with respect to each person nominated for election as a director and each other person whose term of office as a director will continue after the meeting:

(1) The name of each such person, when the person's term of office or the term of office for which the person is a nominee will expire and all other positions and offices with the insurer presently held by the person and which persons are nominees for election as directors at the meeting;

(2) The present principal occupation or employment and the name and principal business of any corporation or other organization in which such employment is carried on and similar information as to all of the persons' principal occupations or employments during the last five years, unless the person is now a director and was elected to the present term of office by a vote of stockholders at a meeting for which proxies were solicited under this chapter;

(3) Whether the person is or has previously been a director of the insurer and the period or periods during which the person has served as such; and

(4) As of the most recent practicable date, the approximate amount of each class of stock of the insurer or any of its parents, subsidiaries, or affiliates other than directors' qualifying shares, beneficially owned directly or indirectly by the person. If the person is not the beneficial owner of any such stocks a statement to that effect shall be included.

S.D. Admin. R. 20:06:03:27

SL 1975, ch 16, § 1; 12 SDR 151, 12 SDR 155, effective 7/1/1986.

General Authority: SDCL 58-4-1, 58-5-49.

Law Implemented: SDCL 58-5-49.